Enphase Energy (NASDAQ:ENPH) Sees Strong Trading Volume Following Analyst Upgrade

Enphase Energy, Inc. (NASDAQ:ENPH) saw unusually-high trading volume on Wednesday after Oppenheimer raised their price target on the stock from $133.00 to $134.00. Oppenheimer currently has an outperform rating on the stock. Approximately 4,071,801 shares were traded during mid-day trading, a decline of 0% from the previous session’s volume of 4,077,532 shares.The stock last traded at $116.39 and had previously closed at $113.48.

Other research analysts have also recently issued research reports about the company. TD Cowen boosted their price objective on Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised Enphase Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $98.00 to $141.00 in a report on Monday, January 8th. Truist Financial lowered their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday. Canaccord Genuity Group initiated coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Finally, Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 target price for the company. in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.82.

Insider Activity at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the acquisition, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the transaction, the chief executive officer now directly owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 34,285 shares of company stock valued at $4,054,428 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $26,000. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter valued at about $31,000. Geneos Wealth Management Inc. raised its holdings in shares of Enphase Energy by 68.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 252 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 102 shares during the period. Parkside Financial Bank & Trust raised its holdings in Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the period. Finally, Addison Advisors LLC raised its holdings in Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 304 shares during the period. 72.12% of the stock is owned by institutional investors.

Enphase Energy Stock Performance

The stock has a market capitalization of $15.25 billion, a P/E ratio of 35.53, a PEG ratio of 3.16 and a beta of 1.47. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The company’s fifty day simple moving average is $119.28 and its two-hundred day simple moving average is $111.97.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. As a group, equities analysts forecast that Enphase Energy, Inc. will post 2.01 EPS for the current year.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.